The coal ministry has told the national auditor that its observations about “windfall gains” to private and state-run entities as a result of allocation of coal blocks without auction were “fallacious and erroneous”.   The ministry has rejected the Comptroller and Auditor General’s (CAG)’s observation that due process was not followed in allocating blocks, and insisted that a “fair and transparent” system was followed, and decisions taken after intense scrutiny and extensive...

The ongoing debate over the incidence of poverty in India, often assuming surreal proportions, shows that there is indeed a ‘philosophy of poverty’ guiding current economic reforms. The loot of our country’s resources that is taking place both through these reforms, which continue to widen gross inequalities, and through the open plunder of our resources for private gain — as reflected in the series of mega scams — require the legitimacy...

The Stockholm International Water Institute (SIWI) has warned against the increasing leasing and buying of millions of hectares of farmlands in Southeast Asia, Africa and Latin America for food and fuel production. This land is being leased to private investors and sovereign wealth funds with no explicit legal agreement on how water will be used on these farmlands. The World Bank has estimated that over 56 million hectares of land in Africa...

-Economic and Political Weekly   Budget 2012, built yet again at the altar of fiscal fundamentalism, will not convince anybody. In this era of immediate assessment it took just a few minutes for the Union Budget for 2012-13 to be given one or the other negative appellation – “lacklustre”, “anti-growth”, “back to the 1980s”, “without reform” and the like. Such evaluations forget that union budgets have long since ceased to be statements of...

To get the Below Poverty Line figures in perspective, we need to closely monitor the numbers driving the Corporate Plunder Line. One Tendulkar makes the big scores. The other wrecks the averages. The Planning Commission clearly prefers Suresh to Sachin. Using Professor Tendulkar's methodology, it declares that there's been another massive fall in poverty. Yes, another (“more dramatic in the rural areas”). “Record Fall in Poverty” reads one headline. The record...